Home News Coronavirus Update: Will More Stimulus Be Approved Before Election Day?

Coronavirus Update: Will More Stimulus Be Approved Before Election Day?

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House Speaker Nancy Pelosi has extended her self-imposed Tuesday deadline to conclude negotiations on a new coronavirus pandemic relief bill, allowing both sides to continue talks. In an interview with Bloomberg TV, Pelosi stressed that if a bill is to be voted on before the November 3 election, it must be finalized and written by the end of this week.

“I would think we have to have this finished by the end of next week. In order for that, we have to have our legislation all written by the end of this week. Then you have all your procedural 72 hours of review for the world to see,” Pelosi said.

Earlier this month, House Democrats passed a $2.2 trillion stimulus bill, and the White House is slowly increasing its threshold as the election nears. Although the two sides are at odds over details, Pelosi says she remains optimistic that a deal can be reached. The speaker and Treasury Secretary Steve Mnuchin resumed talks on Wednesday to negotiate funding for state and local governments, jobless benefits, funding for schools and more.

Despite the advancements made in the negotiations, Senate Majority Leader Mitch McConnell is focusing on confirming Judge Amy Coney Barrett as a Supreme Court justice.

McConnell told Senate Republicans Tuesday that he discouraged the White House from making a deal on a large coronavirus stimulus bill ahead of the election, and this may be why.

If Pelosi can successfully negotiate and draft a $2 trillion stimulus package with Mnuchin and the White House before election day, McConnell will be forced to decide to hold a vote ahead of the election on a package he and other Republicans disagree with but could benefit their cash-strapped constituents and grant Trump his wish to get a deal done.

According to sources on both sides of the aisle, while it’s possible a deal can be reached before the election, passing a bill through both chambers is highly unlikely and may have to wait until after November 3.

MORE ON THE PANDEMIC

A study by the New School University in New York found that for the first time in 50 years, older workers are facing higher unemployment than their mid-career counterparts.

Researchers found that during the pandemic, workers 55 and older lost jobs sooner, were rehired more slowly and faced higher job losses than workers age 35 to 54.

From April through September, older workers’ unemployment rates were 1.1 percentage points higher than mid-career workers and rates were worse for older workers who are black, female or lack college degrees.

U.S. drug overdose deaths are nearing an all-time high, this according to national data. The sharp increase in deaths can be linked to the coronavirus crisis, which addiction experts say has left people stressed and isolated, and interrupted normal treatment and recovery programs.

Before the pandemic hit, the U.S. was experiencing the deadliest drug overdose epidemic in its history, with a record 71,000 overdose deaths in 2019.

Retail giant Target announced that it will give its 350,000 frontline team members a $200 bonus as the holidays approach. The bonus, the fourth one this year, comes as a “thank you” for the essential employees who have risked their health to continue working throughout the pandemic.

All eligible hourly team members in stores, distribution centers and guest and team member contact centers will receive the additional funds, including seasonal hires.

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